Myers Methods Presents Multifamily Missteps Podcast

Check back regularly to catch up on our podcast

 

Multifamily Missteps Hosted by Jerome Myers

Being a Key Principal - Sandhya Seshadri (Wed, 03 Mar 2021)
Sandhya Seshadri is the founder and CEO of Texas Twilight Investments and Multi-Family 4 YOU. She’s a multifamily deal sponsor, syndicator, and accredited investor based in Dallas, Texas.  Let’s jump into Sandhya’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 04:10] Opening Segment Sandhya talks about her background and when her journey began Moved to Texas 30 years ago from India Graduated with an engineering degree and MBA Got into the corporate world and stock exchange  Joined a Multifamily Syndication  [05:00 - 15:00] Practical Training  Sandhya shares the lessons she learned especially as a passive investor Sandhya talks about the importance of putting her money in the deal Sandhya shares her transitional experience  Choosing the right partner to invest with [15:01 - 21:05] Being a Key Principal  Sandhya talks about her experience dealing with banks  Sandhya shares about her experience being a Key Principal  Sandhya gives us valuable advice about how to be a Key Principal [21:06 - 24:13] Closing Segment How do you find and approach the people that have the capacity to join your deal? Follow the same rules that you would use to get passive investors Offer your current investors to become Key Principals Guidance to ask about networth information input on lenders’ requirements What are your words of wisdom to our listeners? “No matter what the obstacles might seem, there is always a way.” Final words from me Tweetable Quotes:  “No matter what the obstacles might seem, there is always a way. The straight path that someone else had followed might not be going to fit you, you have to create your own path.” - Sandhya Seshadri You can connect with Sandhya on LinkedIn, and Facebook. Check her website at multifamily4you.com or email her at multifamily4you@gmail.com LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


Where Are the Numbers Coming From - John Azar (Tue, 02 Mar 2021)
Checking the numbers and doing due diligence will save you in the long run, most of the time. John Azar delves into his journey into multifamily. He talks about his setback during 2008 and his incremental growth to owning over 6000-8000 units. John talks about the doomsday scenario, stress testing, and planning for foreseeable roadblocks. John Azar is the  Executive Vice President of MACC Venture Partners. KEYPOINTS No shortcut to growth, growth happens in increments  Talking with peers in the industry Working with investors when starting out in a multifamily investing SEGMENT TIMESTAMPS 01:50 – Off the script: going from deal 1 to 6000 - Getting into multifamily 04:20 – Building from the ground up 07:25 – The missteps along the way 10:00 – Which scenario is the best scenario? 17:25 – Under promising and overdelivering If we always look at the best-case scenarios, we will never account for worse case scenarios. - John Azar LINKS John Azar Website: https://maccvp.com/senior-management-team/ LinkedIn: https://www.linkedin.com/in/jalalazar Support the show (https://www.facebook.com/groups/157335752156211/)


Respect is a Non Negotiable - John Casmon (Mon, 01 Mar 2021)
John Casmon joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps associated with partnerships. We learn why he decided to leaving fixing and flipping behind and how we went from a duplex to controlling over 90,000,000 in multifamily real estate.  John shares how he had a deal go bad because of a lack of respect in the partnership.  We hear what motivated him to be an advertising executive and why he left that career behind. John believes that respect is a non-negotiable. In this week's show we learn about: - the importance of harnessing your transferable skills - how to expand your investor database past your friends and family - why you have to have cushion in your estimates - when you should trust your gut - the similarities between a partnership and a marriage - what happens when only the lender makes money - how emotional drain can have more impact than financial - the importance of being able to adjust when your plan derails - why you shouldn't let your budget dictate who you work with If you are interested in getting more multifamily investing education go to www.myersmethods.com Support the show (https://www.facebook.com/groups/157335752156211/)


My Reputation is Worth More than Money - Brian Burke (Sun, 28 Feb 2021)
Today I had the pleasure of speaking with the President / CEO of Praxis Capital Inc, Brian Burke.  Let’s jump into Brian’s story of how reputation is worth more than money and what real estate investing is all about  Things you will learn in this episode: [00:01 - 04:03] Opening Segment Brian talks about his background and his real estate journey  Connect with Brian, see below for the links.  How he started in multifamily  [04:04 - 15:54] How Brian Handles Economic Challenge During The Recession Brian discusses how he strategizes to gain access to capital in the midst of the recession Brian recalls where the real estate began collapsing in the year 2005  Lehman Brothers, Bear Stearns, and stocks markets collapsed  People started losing jobs resulted from them to stopped paying rent, got evicted, or moved out  Brian shares how he handles the issues during the economic challenge when the real estate business came crashing down [15:55 - 21:30] My Reputation is Worth More Than Money  Brian shares lessons you need to avoid when it comes to real estate investments Brian  gives powerful words of wisdom in times of global pandemic “Take the lesson that I’ve learned from the last economic challenge and apply them to this one” “Use conservative leverage, use conservative assumptions when you're underwriting” “Never worry about being too pessimistic”  Tweetable Quotes:  “Don't use so much leverage” -Brian Burke  “Without reputation, you have nothing” -Brian Burke  You can connect with Brian on LinkedIn, visit his company website https://praxcap.com/ or you can also reach him on  https://www.biggerpockets.com/forums  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


TIC Nightmares - Richard Fowler (Tue, 23 Feb 2021)
Investing in real estate requires your attention, regardless if you’re active or passive. It also helps to be knowledgeable and involved, especially if your name and reputation are at stake in the deals that you’re going with. Richard Fowler realized this when he went through some nightmares about the properties he’s handling. What he realized in this experience is that one must consider all options available before going all out in real estate. In his case, he shares what could’ve been a better tax planning strategy in his deals.  [00:01 - 01:56] Opening Segment  I welcome today’s guest, Richard Fowler Connect with Richard! Links below [01:57 - 05:43] Single Family Investing Richard walks us through his path to real estate  What you should watch out for in single family investing [05:44 - 14:50] Tenancy in Common Nightmares  Understand deferred taxes with these tips from Richard  Cost segregation or 1031 exchange?  Richard weighs in What Richard changed in his real estate approach [14:51 - 16:27] Closing Segment Don’t miss Richard’s words of wisdom for today!  Final words Tweetable Quotes: “Learning leads to action. Action leads to success” - Richard Fowler “Knowledge makes you wealthy.” - Richard Fowler You can connect with Richard by emailing topteam4solutions@gmail.com or get in touch with him on LinkedIn.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


$6,000 pay out on a 40k claim - Jeremy Goodrich (Tue, 16 Feb 2021)
You buy insurance policies with the hope that you won’t ever have to use them. In case you have to use a policy, you hope that every loss and damage will be covered. It’s true that insurance is a good safety net that can protect your hard-earned money in real estate--only if you fully understand what you signed up for.  Insurance agents like Jeremy Goodrich know a good policy when they find one. Most of the time though they find terrible policies, those that will not really protect the investors’ properties, or worse, force them to pay an insane amount they don’t expect. Jeremy found out that many real estate investors--80% to be specific--own those terrible policies. He’s using his knowledge and platform to educate real estate investors about insurance policies that cover everything they need. [00:01 - 02:23] Opening Segment  I welcome today’s guest, Jeremy Goodrich  [02:24 - 08:30] $34K Out-of-Pocket Cost The 2 things real estate operators should look for in an insurance  Listen to this multifamily misstep that Jeremy encountered  $6K payout on a $40K claim Why you should not get an Actual Cost Value coverage  [08:31 - 14:16] The Right Insurance Agent  Learn Jeremy’s no. 1 piece of advice for investors What to look for in an insurance agent  Listen to Jeremy’s approach in insurance   [14:17 - 20:48] Expensive Insurance Coverage  Have you been offered something you shouldn’t be paying for?  Listen to Jeremy Jeremy breaks down loss runs  Hear from Jeremy about “uninsurable” properties Are there such properties?  [20:49 - 22:01] Closing Segment Find Jeremy at the links below Final words Tweetable Quotes: “The bottom line is: ‘Where’s the best price for the coverage that I actually want, that I actually need, that I actually feel will take care of me?’” - Jeremy Goodrich “You just can’t think about insurance as insuring what you paid for in a property.” - Jeremy Goodrich You can connect with Jeremy by emailing jeremy@shineinsurance.com or get in touch with him on LinkedIn. Check out Shine Insurance to learn more about their work.  Do you belong to the 80% of commercial real estate investors with insurance that will fail to protect your properties? Find out here.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


The Third Time is the Charm - Bo Goebel (Tue, 09 Feb 2021)
Failures always have silver linings if you only know where to look at. Those silver linings are often directions that lead to the path to success. However, among those who have found a silver lining, only a handful of people take action. A fraction of those people try and try then, after seeing failures again, completely give up. People like Bo Goebel belong to the few determined ones who have managed to see the light at the end of the tunnel even after several setbacks. May this episode remind you then that the path to success is not a straight line. In most cases, it’s full of ups and downs.  [00:01 - 04:29] Opening Segment  I welcome today’s guest, Bo Goebel Find Bo at the links below His path from the Army to real estate  [04:30 - 10:26] Preparation is the Key  Why commercial multifamily is the best wealth-building vehicle now The biggest reason a deal can fail  The “old-school” mentalities you should drop already [10:27 - 21:28] Third Time's the Charm This deal was an “educational piece” for Bo Hear his story  Syndication is not only applicable to commercial multifamily Bo explains The most fulfilling aspect of closing a deal [21:29 - 26:43] A Positive State of Mind Bo walks us through their onboarding process Bo’s solutions avoid another multifamily misstep  Don’t miss his words of wisdom for us [26:44 - 27:41] Closing Segment Final words Tweetable Quotes: “The most important aspect to any success in life is a positive state of mind.” - Bo Goebel “That love and appreciation for everybody is gonna be the marker of success.” - Bo Goebel Resources Mentioned Book: Think and Grow Rich You can connect with Bo by emailing him at bogoebel@riversideinvestmentgroup.com. You can also get in touch with him on LinkedIn. Check out Riverside Investment Group to learn more about their work.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Things to Watch Out for in PPMs - Jeff Love (Tue, 22 Dec 2020)
Jeff Love is a partner at Gibbs Giden Attorneys at law. His practices encompass all facets of real estate transactions, including drafting and negotiating purchase, sale, syndication, and financing transactions in connection with commercial, industrial, and residential assets. He also regularly drafts and negotiates office, retail, and industrial leases for regional landlords and tenants throughout the West Coast. Things you will learn in this episode: [00:01 – 04:23] Opening Segment How to get in contact with Jeff See the links below Jeff talks about his background in real estate Jeff talks about Los Angeles deals and missteps [04:24 – 18:08] You Have to Disclose Understanding disclosures Disclose everything to investors PPM’s in investment deals Jeff’s recommendations to avoid missteps in disclosures Don’t guarantee things Disclose and share information [18:09 – 21:51] Closing Segment Jeff’s words of wisdom for the listeners: Not everything goes according to plan Don’t get discouraged when things go wrong Learn from your missteps Final thoughts   Tweetable Quotes: “Don’t get discouraged when things go wrong. Things are going to happen, it’s a fluid situation especially with real estate, even more so when you’re just starting out. So you may have some missteps, but the important thing is to learn from those missteps. ” - Jeff Love “Disclose everything to your investors. You want investors to understand the deals as much as you do. The problem arises when you have investors that didn’t understand the deal, the risks of what they’re getting into, and just saw that massive return.” - Jeff Love “The point of disclosing is for the investor to actually see it and understand it and be okay with it.” - Jeff Love “There’s no substitute for a trust. You’ve got to trust the people you’re working with, you’ve got to like the people you’re working with. Because when you don’t, that’s where problems are gonna rise.” - Jeff Love Resources Mentioned: Tesla Apple Connect with Jeff, send him an email at jlove@gibbsgiden.com. Visit their firm’s website at https://www.gibbsgiden.com/.    Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Scrambling After the Lender Shorted Me - John Eitingon (Tue, 15 Dec 2020)
John Eitingon is a Managing Partner at DXE Properties. Before DXE Properties, John leaped and dived into the multifamily world, working on a 20-unit distressed property in Cincinnati, OH, as his first real estate investment. With over 8 years of experience in multifamily, John brings his expertise and a keen eye to acquisitions, identifying growth opportunities.  Things you will learn in this episode: [00:01 – 08:16] Opening Segment How to get in contact with John See the links below John talks about his background and his journey to real estate Took a leap into multifamily (20-units) as his first deal John talks about the most recent deal he closed A 140-unit property Structuring a deal based on equity [08:17 – 16:29] They Cut Loan Proceeds John talks about Bridge Loans What is a bridge loan? Why they prefer bridge loans Be unique What makes John and DXE Properties different from others John walks us through the process of managing deals involving bridge loans Making sure a property manager is going to perform and bring excellent results [16:30 – 18:17] Closing Segment Final words of wisdom for the listeners: “I think it depends on what you’re looking for. My advice is always like, for those just getting started in real estate is, in its simplest form – location, location, location.” Final thoughts     Tweetable Quotes: “I like deals that need a bridge loan. I think those are the ones where you can create a lot of value and I think those are the ones that give yourself an opportunity to really hit the home runs.” – John Eitingon “Bridge loans they’re going to be more expensive, so you do want to make sure the juice is worth the squeeze.” – John Eitingon   Resources Mentioned: Bridge Loans definition   You can connect with John on https://www.dxeproperties.com/ or send him an email at jeitingon@dxeproperties.com   Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Following the Fire Truck to My Apartments - Tyler Lowe (Tue, 08 Dec 2020)
Tyler Lowe works for a pest control company in the day while making real estate investments on the side. His real estate journey started back in 2016 when he bought his first single-family property. Later on, he was able to buy an 8-unit apartment, but during a span of 6 months, they experienced 3 fires. Bouncing back up from these setbacks, Tyler joins us today to share the lessons he has to offer. [00:01 – 04:21] Opening Segment How to get in contact with Tyler See the links below Tyler talks about his background and real estate career He works for a pest control company as his day job His first deal was a single-family back in 2016 [04:22 – 16:30] Following the Fire Truck to My Apartments Tyler’s missteps 3 fires within six months of each other Tyler talks about each fire Bouncing back up from these setbacks [16:31 – 18:10] Closing Segment Final words of wisdom for the listeners: “Make sure you have reserves.” Final thoughts    Tweetable Quotes: “You need to make sure that you have some kind of reserves in the bank just to make sure when stuff does hit the fan – that you have some kind of backup plan as far as some money to pull to make sure you can get those things resolved. Because the faster you can get those things resolved the faster you can get somebody in there making money again.” – Tyler Lowe   You can connect with Tyler by sending him an email at greensalixrealestate@gmail.com Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Make Sure You Go in the Crawl Space - Ashton and Chris Levarek (Sat, 05 Dec 2020)
My guests for today are Ashton and Chris Levarek from the Valkere Investment Group, a family-owned company that offers choices and opportunities for passive investing by syndicating apartment deals and small multi-family properties. Let's dive into their story and get expert advice on real estate investing.  [00:01 – 05:08] Opening Segment Let’s get to know Ashton and Chris Levarek How to get in touch with Ashton and Chris?  Ashton shares their path to multifamily investing A 90-day commitment [05:09 – 15:01] A Partnership That Clicked Learn from Chris and Ashton’s multifamily missteps What saved them from these missteps? [15:02 – 25:29] A Mantra That Worked  Don’t miss Ashton’s real estate tips! Ashton tells us why we should take action first Chris shares 3 ways to start in real estate  [25:30 – 28:48] Closing Segment Hear words of wisdom from Ashton and Chris! Final words from me    Tweetable Quotes: “There are three ways to get into [real estate] You can passively invest in someone’s deal… or you can pay for a mentorship or you get lucky with a good friend or mentors doing this or...you go in yourself and you make all the mistakes. ” –  Chris Levarek “Take action. An action can be as little as committing to learning something new in the next 30 days.” –  Ashton Levarek Resources mentioned: BiggerPockets Long-Distance Real Estate Investing Thumbtack Joe Fairless The Three Immutable Laws of Real Estate Investing Monday Good People  Connect with Ashton on LinkedIn. You can also reach out to Chris via LinkedIn, Facebook, and Instagram. Visit their company’s website https://www.valkeregroup.com/ and check out their LinkedIn, Facebook, Instagram, and Twitter pages.   Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Multifamily Investing Made Simple Take Over - Anthony Vicino and Dan Krueger (Fri, 27 Nov 2020)
Anthony and Dan take over the Multifamily Missteps Podcast and bring on their guest Sterling White. Support the show (https://www.facebook.com/groups/157335752156211/)


Wild Wild West - Ben Wuollet (Wed, 25 Nov 2020)
Ben Wuollet is the Acquisitions Manager for the Bakerson portfolio for over four years. His extensive experience in all facets of the acquisitions life cycle allows Ben to acquire properties quickly and efficiently. He has been directly involved in the underwriting, due diligence, property management, and closing of over 300 transactions during his term at Bakerson. Things you will learn in this episode: [00:01 – 03:42] Opening Segment How to get in contact with Ben See the links below Ben shares the trouble they had with some of their acquired properties in Tucson [03:43 – 18:00] The Wild Wild West Ben talks about how they handle property deals in troublesome neighborhoods Buying properties in both nice and rough neighborhoods The Bakerson Property model Making a difference in the neighborhoods and communities Getting feedback and taking time to cater to the concerns of their tenants and clients The Bakerson Philosophy [18:01 – 21:51] Closing Segment Ben’s words of wisdom for the listeners Final thoughts Tweetable Quotes: “We’re all in business to make money. But if you are only in business to make money, you start to lose your why, you start to lose the purpose and it becomes monotonous.” - Ben Wuollet “Never be too proud to pick up a broom. If there’s an issue, fix it. If you walk in the property and you see a piece of trash on the ground, just pick it up and throw it away. Don’t go find the maintenance guy and tell him to go pick it up.” - Ben Wuollet “Leave all things better than when you found them.” - Ben Wuollet Resources Mentioned: Wuollet Bakery Connect with Ben on LinkedIn. Visit their firm’s website at https://bakerson.com/ Call 877.969.1987   Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Bait and Switch - Oscar and German Buendia (Tue, 10 Nov 2020)
I have the pleasure of talking with Oscar and German Buendia of the GoodDay Capital. Oscar and German own 1.5 million dollars worth of assets distributed to over 20 multifamily units. They bring years of experience in leadership and management to real estate investments. Today, they will share their multifamily missteps and the processes to address them.  Let's dive right in and get expert advice on real estate investing! [00:01 – 04:59] Opening Segment Let’s get to know Oscar and German Buendia How to get in touch with Oscar and German  They talk about their path to multifamily [05:00 – 13:10] Higher Number, Easier Funding Oscar shares the first big lesson in real estate They share the multifamily misstep they experienced Proper documentation is a must  [13:11 – 24:04] Due Diligence Listen to their plans to venture into larger multifamily deals! They talk about the power of social media to build an investor base The mistake they made with good people   [24:05 – 26:32] Closing Segment Hear words of wisdom from Oscar and German! Final words from me    Tweetable Quotes: “If [a property is] so mismanaged, we have an opportunity and upside here to turn it around.” –  Oscar Buendia “We have to stick to the plan. We cannot deviate just because of excitement.” –  German Buendia Resources mentioned: Michael Blank Vinney Chopra Connect with Oscar on LinkedIn and Facebook. You can also reach out to German via LinkedIn, Facebook, and Instagram. Visit their company’s website https://gooddaycapital.com/ and check out their LinkedIn and Facebook pages.  Listen to their podcast.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


10% From The Insurance Claim - Chris Lento (Mon, 09 Nov 2020)
I had the pleasure of speaking with Chris Lento today. Chris is the managing member of EM Capital LLC, focusing on acquiring commercial multifamily apartment complexes in markets across the country that exhibit positive growth trends. His passion is helping middle- and low-income families in overcoming housing issues through well-managed and well maintained economic housing.  Let’s jump into this episode and get expert advice from a real estate pro!  [00:01 - 02:19] Opening Segment How to get in touch with Chris Lento Links below Let’s get to know Chris  [02:20 - 10:07] 10% From Insurance Claim  Chris talks about an eye-opening misstep on plumbing you should hear! He talks about his experience on a private insurance investor What was his response when two residential properties broke down?  [10:08 - 19:38] With Broker or No Broker?  Chris talks about their in-place re-piping plans An on-call plumber is key Here’s another misstep from Chris you should hear Chris gives us a tip on when brokers should be called He talks about the importance of a good loan agency [19:39 - 21:14] Closing Segment Words of wisdom from Chris  Final words from me Tweetable Quotes:  “[If you have problems,] reach out. There’s a lot of nuances and things that could go wrong in multifamily investing but rarely are they new. Someone else had already dealt with that situation.” - Chris Lento “Check out podcasts. Check out other people’s websites. Call other investors...Just reach out because there’s a lot of solutions out there that maybe you wouldn’t have thought of and it could save you a lot of time and money.” - Chris Lento Resources Mentioned: BiggerPockets Email Chris at chrislento@emcapitalgroup.com. You can connect with him on LinkedIn, Facebook, and their website. Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Leveraging Partnerships and Creative Financing to Build a 90+ Unit Portfolio by 23 with Harper Jones (Thu, 22 Oct 2020)
Today's episode with Harper Jones is a great one if you think you can't invest in real estate when you're younger - Harper has built a sizeable real estate business using creative financing and partnerships, all before the age of 23!    Harper is located in Knoxville, TN, and invests in real estate where he focuses on wholesaling and multi-family investments. He prefers to get creative with real estate deals when possible. Alongside real estate, Harper is part of CreateTailwind as a strategist to teach people how to become their own banker. He teaches people how to utilize this strategy in their day to day life and with their investments.     Show Notes and Highlights: - Harper shares his experience in door to door sales and how he learned programming to earn income on the side. - We discuss how Harper utilized direct mail to start his wholesaling business, which led to his first multifamily acquisition. - Harper shares his next few deals in college and how he structured his deals - We discuss how Harper builds additional relationships through conversing with landlords and brokers.  - Harper shares how a “personal approach” such as writing hand letters, door knocking, and calling landlords can help scale one's business.  - Harper shares why he used a 6% preferred return, followed by a 50/50 GP/LP Split.  - We discuss how age can be detrimental or advantageous to one’s business and how age is more of a mental barrier than anything.  - We talk about how stimulus checks and the current state of the economy will impact rent collections and the multifamily real estate market. - Harper shares how he negotiated and used creative financing to acquire a motivated seller's full portfolio through a very sophisticated deal structure.  - We discuss Harper’s goal of closing more deals and stacking more capital over the next 6-12 months. - Harper shares what he would do differently if he was restarting his real estate career.    CONNECT WITH HARPER:    His podcast about the Knoxville seller finance deal:    Part 1 Overview: https://createtailwind.com/2020/04/21/harper-jones-the-crossroad-of-infinite-banking-and-real-estate/ Youtube Video analyzing/reviewing the deal: https://www.youtube.com/watch?v=j3KqkkDblhs https://www.linkedin.com/in/harperajones/ harperajones@gmail.com CONNECT WITH AXEL: Follow him on Instagram Download the Investor's Toolkit (investor pitch deck, cash flow calculator, scope of work template, and renovation checklist). Support the show (https://www.facebook.com/groups/157335752156211/)


50% of the Equity - Spencer Gray (Tue, 20 Oct 2020)
Spencer Gray is the founder and president of Gray Capital, LLC, and Gray Properties, LLC. He has developed, leads, and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors.  Let’s jump into Spencer’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 03:11] Opening Segment How to get in touch with Spencer  See links below Spencer talks about his background and current focus Grew up in an entrepreneurial family Started his first real estate investment in highschool Sold his business in 2015 Focus on multi-family housing [03:12 - 11:59]  50% of the Equity Spencer talks about the solid B-class deal that he purchased  Joint venture project 314 units located in Carmel, Indiana Create the momentum to start the project and add values Fix some issue and calculation from the previous owner  Spencer talks about the finding the Funders to get to the deal Reaching out to the institutional funding equity groups that specialize in real estate If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Spencer talks about how he got the 340 unit deal It was off the market from a broker All about relationships, building the network, and being active  [12:00 - 18:19] Preventing Collateral Damage from Miss Steps Spencer talks about the financial implications and collateral damage after the rent bump Significant drop off in renewal  Occupancy went from 100% to 83% at one time and majorly affected annual cash flow Still able to hit the target return just because of the underwriting  Resolving the Rent Bump process Mostly happen on the 1st year of operation How to prevent Rent Bump Communication and community engagement  [18:20 - 19:54] Closing Segment What are your words of wisdom to our listeners? “Don’t just focus on the problem but start to focus on the ray of a different solution to open multiple doors. “Never assume anything, but communicate the problem, because communication is the key.” Final words from me Tweetable Quotes:  “When the deal gets bigger, it’s all about putting the right team together, getting the right people to the table to get the deal done .” - Spencer Gray “Don’t just focus on the problem but start to focus on the ray of a different solution to open multiple doors” - Spencer Gray You can connect with Spencer on LinkedIn and Facebook. Check his website at www.graycapitalllc.com/ or email him at spencer@graycapitalllc.com  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


Be Comfortable With The Market - Chris Larsen (Wed, 14 Oct 2020)
I had the pleasure of speaking with Chris Larsen today. Chris is a real estate expert, author, podcast host, and founder plus Managing Partner of Next-Level Income. Chris has been investing in and managing real estate for over 20 years. He is deeply passionate about helping investors become financially independent through education and investment opportunities with his experience. Let’s jump into Chris’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 07:19] Opening Segment How to get in contact with Chris See links below Chris talks about his career background and journey in real estate He has a bachelor's degree in Biomechanical Engineering and M.B.A. in Finance at Virginia Tech Chris talks about his entrepreneurial side Pivoting from stock market to real estate [07:20- 13:29] Being Comfortable with the Market  Chris talks about the challenges he faced in real estate We learn more from the mistakes we made The biggest motivation for him in writing his book was so people can learn from his journey and the mistakes he made in the past Chris talks about the three things that investors need to look at when it comes to Multifamily Make sure that you’re comfortable with the Market that you invest in Make sure that you understand the operator’s experience and the team Make sure that you know the deal, especially the investment return The goal is to expand the value that you provide  Chris talks about his experience in investment with his former partner [13:30 - 19:54] Finding your True Skills  Chris talks about his self-discovery and how to be good at your skillset If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Chris talks about all the different area of investing Short term cost and the long term cost [19:55 - 27:40] The Key is to Communicate  Chris talks about the conversation to unravel a partnership The key indicator to understand your team Fundamental process change to prevent the unraveling of partnership [27:41 - 29:39] Closing Segment What are your words of wisdom to our listeners? “ Dream big! Do not shy away from your dream and aspiration.” “Find, learn, and reach out to someone that has achieved what you want to achieve .” Final words from me Tweetable Quotes:  “If something doesn’t work, look at it as a learning experience and look forward. The lesson that you learn and the relationship that you build are much more valuable than the cost that took you there .” - Chris Larsen. You can connect with Chris on LinkedIn, and you can also visit the website at www.nextlevelincome.com/. Click here to get a free copy of his book https://www.nextlevelincome.com/ebook.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


In 2016 market heated up in Chicago - David Evans (Wed, 14 Oct 2020)
I had the pleasure of speaking with David Evans today. David is a real estate expert and the Founder of the Investment Property Advisors LLC. With his deep passion for real estate, David’s primary focus is advising investors on how to best position themselves when buying and selling investment property to minimize risk while increasing their upside. [00:01 - 07:39] Opening Segment How to get in contact with David See links below David talks about his career background and journey in real estate David talks about how he sources the eight-unit apartment Business plan of the property David talks about the issue he got with the property manager [07:40 - 11:44]  In 2016, Market Heated Up in Chicago David talks about the lessons he got when he manages the property More about finding the right property management company How to choose the right property management company to move forward The importance of the economy of scale  Require more units To mitigate cost, you still need to be involved to a certain extend  Avoid upcharge  If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! [11:45 - 16:17] The Vacant Basement Units David talks about taking the platform for his property management agreement from another property management and modify Make sure that there are a 30 days notice termination clause on the agreement The downfall is we do not exercise the action soon enough in most cases David talks about the financial impact of changing property management The challenge of running a basement units [16:18 - 19:12] Closing Segment What are your words of wisdom to our listeners? “Be very careful about how you choose your partners and make sure there is a clear understanding of role and responsibilities.” “ When a relationship is not working with the property management company, don’t be hesitate to terminate the relationship; it will save you so much money later.” “Take action swiftly when you do have vacant units because that is lost income.” “Reach out and research as many housing programs in your area as possible.” Final words from me Tweetable Quotes:  “Be very careful on how you choose your partners and make sure there is a clear understanding of role and responsibilities.” - David Evans. “ When a relationship is not working with the property management company, don’t be hesitate to terminate the relationship; it will save you so much money later.” - David Evans. “Take action swiftly when you do have vacant units because that is lost income.” - David Evans. You can connect with David on LinkedIn and the phone at 773-678-621 or email him at david@investmentpropertyadvisorgroup.com. LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episode. Support the show (https://www.facebook.com/groups/157335752156211/)


I Didn't Understand the Retail - Matt Anices (Tue, 15 Sep 2020)
I had the pleasure of talking with Matt Anices, a multi-family investor, and syndicator. He also serves as a sales consultant for a development company in Atlanta, Georgia, and currently a sales executive at Lead Revenue, LLC.  Let's jump into Matt’s story and get expert advice from a real estate pro! [00:01 – 07:40] Opening Segment Matt Anices talks about his background and how he got into real estate He shares that he started in real estate by learning from and linking with the right people  [07:41 – 16:58] I Didn’t Understand the Retail Matt shares the challenges he encountered with retail business Prepare better for the worst  Reach out faster to experienced people  Here’s a quick shout out to our channel, Myers Methods Matt talks about what he would have done differently Matt talks about the importance of relationship-building in the real estate business  Understand people’s goals Listen to people to determine what’s important for them  [16:59 – 20:58] Closing Deals Quickly  Matt talks about going after deals fast because they can also fall apart fast He shares about the changes he made for him to avoid losing deals again  [20:59 – 22:16] Closing Segment Matt shares some words of wisdom in doing real estate business Keep learning Stay innovative Don’t be afraid to reach out to people Tweetable Quotes: “There’s always opportunities to innovate people’s businesses and to stand ahead of the curve.”  – Matt Anices  “When you have a deal, go after it. Don’t be afraid of it.”  – Matt Anices Resources Mentioned: Myers Methods You can connect with Matt on 9724417995 or follow him on Instagram, Facebook, and LinkedIn. Check out Lead Revenue, LLC on LinkedIn.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


5.2 MM Lost in the Wire - Bruce Petersen (Thu, 10 Sep 2020)
I had the pleasure of speaking with the Founder of The Apartment Guy℠, Bruce Petersen. He is a serial syndicator of large multi-family properties throughout Central Texas. Let’s jump into Bruce’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 04:10] Opening Segment Bruce talks about his background and where his journey began The first one to graduate high school in his family, dropped out of college and failing in the retail industry Found a good real estate mentor, and jumped right into Multi-Family Syndication [08:55 - 15:59] 5.2 MM Lost in the Wire Bruce shares his missteps in the real estate business  Bruce shares some unexpected experience in the real estate business Bruce shares the story about his deal that got lost because of the wire  How to be prepared for any unexpected case [16:00 - 21:05] The Hard Truth about Multi-Family Syndication Bruce shares the hard truth about Multi-Family Syndication Bruce talks about preparing to spend our own money on the deals Bruce talks about the strategy to avoids traps on deals [21:06 - 26:23] Closing Segment What is your newly launched book about? “It is about sharing to people the real hard truth about Multi-Family Syndication, that it is not as easy as the theory“ What are your words of wisdom to our listeners? “Understand who you are, don’t just go chasing dollar sign, but do it because you like it” “Be transparent and upfront when things go wrong” “Be self-aware and don’t put yourself in a bad situation” Final words from me Tweetable Quotes:  “Understand who you are, be self-aware and don’t put yourself in a bad situation” - Bruce Petersen You can connect with Jeffrey on LinkedIn, Facebook, and Instagram For a free copy of his book, go to apt-guy.com/get-v-book LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


We'll Fund it without the Lender - Feras Moussa (Tue, 08 Sep 2020)
Feras Moussa graduated from the University of Texas with a degree in Computer Science and worked at Microsoft. In his first 12 months, he built his portfolio completing nine closings. Feras then scaled up into Apartments and started Disrupt Equity with Ben.  Things you will learn in this episode: [00:01 – 07:52] Opening Segment How to get in contact with Feras See the links below Feras talks about his background in real estate Leveraging existing process in systems and software What led to the name Disrupt Equity He also talks about finding deals [07:53 – 14:25] Fund it Without the Lender Why is it difficult to work with bridge lenders They are not fixed with their interest rate Their strategies in different kinds of deals Feras also talks about their extra 800 thousand dollars [14:26 – 20:08] Closing Segment Feras’ words of wisdom for the listeners: Know your lenders and partners on the deals Final thoughts Tweetable Quotes: “No deal goes perfect” - Feras Moussa “Know who your lender is, they are your partner on the deal.” - Feras Moussa “Make sure you have reserves. More reserves than you might need, depending on the deal.” - Feras Moussa  Resources Mentioned: Microsoft Fannie Mae Freddie Mac   Connect with Feras, send him an email at feras@disruptequity.com  Visit their firm’s website at Disrupt Equity Partners.   Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


The Wild Wild West - Ben Wuollet (Tue, 01 Sep 2020)
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That's Why We Fired Them - Devin Elder (Fri, 28 Aug 2020)
I had the pleasure of speaking with real estate entrepreneur, and the founder and principal of DJE Texas Management Group, Devin Elder. Let's jump into Devin's story and get expert advice on how you can switch from single-family to multifamily real estate. [00:01 – 03:23] Opening Segment Devin Elder talks about his background and how his journey began Spent about ten years in corporate America Wanted to be an entrepreneur (pursued real estate) [03:24 – 10:11] From Flipping Houses to Apartment Buildings Why did you switch from flipping houses to apartment buildings? "I'm real big on learning." Have there any been issues with running your apartments? "I absolutely had stuff go wrong, still goes wrong, every day." [10:12 – 18:48] Devin's Missteps Devin shares some of the problems they faced in their company As entrepreneurs, there are times that you just have to take the leap [18:49 – 24:53] Scaling His Multifamily Portfolio How big was your first apartment? Devin talked about his approach when he switched to multifamily Devin talks about the mindset to become successful Shares some actionable advice that you can apply in your life [24:54 – 30:15] Closing Segment Devin gives powerful words of wisdom that you don't want to miss! What does it mean for you to be all in? Devin reflects on how he was able to reach where he is now   Tweetable Quotes: "My default assumption is, somebody's gonna try to steal from me. Somebody's gonna not pay rent. Somebody's gonna quit on-site. And when those things happen you go, ‘Yup, I expected that. It's figuring out how to put in a plan that can deal with all those things’." – Devin Elder "I think that's important for passive investors to understand: there's a lot of dollars in this business. Pro and Con, right? There's a lot of money to be made, but guess what? There's a lot of money to be spent and a lot of operating capital to float too." – Devin Elder "Anything that man can conceive and believe, he can achieve." – Devin Elder     You can connect with Devin on LinkedIn. Visit his website https://www.devinelder.com/. Check out DJE Texas Management Group’s website for more information on real estate investment opportunities. Listen to his podcast, The DJE Podcast.   LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Trust But Verify - David Pere (Tue, 25 Aug 2020)
David Pere is an active-duty Marine who devotes his free time to teaching service members and veterans how to build wealth through real estate investing, entrepreneurship, and personal finance. In this episode, David shares some of his experiences and issues that he faced on his investment deals so we can all learn from it. Let’s jump into David’s story and get expert advice to avoid any potential issue from a real  estate pro!  Things you will learn in this episode: [00:01 - 03:24] Opening Segment David talks about  his journey in the investment [03:25 - 15:29] Trust But Verify David talks about one of his deal and a contractor  Faced some unforeseen issue with the contractor and the building Fix the house, sold it, and got half of his money Lost about $30.000 What could we do to avoid this kind of issue Get a property manager to check the details in the property before giving any checks  Change the billing structure to ensure what your contractor is doing and stays on schedule  Increase the oversight on contractors and stricter contracts  If you are interested in getting into multifamily or scaling your current business; hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Issues may come up, but you just have to adjust your system and keep pushing  [15:30 - 27:59] Have Everything in Writing  David shares the story about one of his deal that had an issue with the property manager in 2018 40 Units mix-use building in Southwest Missouri for $3million  Faced some weird issue by the second month of ownership He was losing two or $3,000 a month since Got the contract breached by the contractor and previous owner  Put legal action proceeding for 14 months and scheduled on July for the jury court case on this deal  David shares the lessons he got from this  Always have his trusted property manager and have her to do the due diligent with him Have everything in writing, not just over the phone  Be more decisive  [28:00 - 31:00] Closing Segment What are your words of wisdom to our listeners? Trust but verify “If you say that you are going to do something, you have to do it.” Always learn, network, and take action  How to get in touch with David See links below Final words from me Tweetable Quotes:  “Issues may come up, but you just have to adjust your system and keep pushing.” - David Pere. “Trust but verify, always have everything in writing, and be more decisive. ” - David Pere. “If you say that you are going to do something, you have to do it.” - David Pere. You can connect with David on LinkedIn, Instagram, and Facebook. Check his website at www.frommilitarytomillionaire.com.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


No Pushing - Spencer Hilligoss (Tue, 11 Aug 2020)
Today I had the pleasure of speaking with Spencer Hilligoss. Spencer is a real estate expert, Founder of Madison Investing, former technology leader, and part of Forbes 2019 Real Estate Council. With a 13-year track record of building high-performing teams across five companies, he is passionate about real estate investing and helping others achieve their goals through real estate. Let’s jump into Spencer’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 05:00] Opening Segment Spencer talks about his background and current focus Spencer shares the story about his early exposure to real estate [05:01 - 15:59] The Hard Learning Spencer talks about his experience in the last company he worked with Investing criteria The concept three pillars Spencer shares about his experience with underwriting knowledge Holistic decision making Have cash reserves  Underwrite the operator (how do you evaluate) Build out vetting criteria for the team that running a multi-family project Spencer talks about the sniff test in real estate investment Spencer talks about doing Capital call  You want your investors to invest because they think it is the right decision for them Not because you got to cross the finish line faster  [16:00 - 28:29] No Pushing Spencer shares another story about the miss-steps he took  investing with other passive investors Hardcore education focus Taking off all the pressure that you wouldn’t ever want to experience  Spencer talks about the signs when you are pushing The sense that you have to push too hard  If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Spencer talks about aspiring passive investors [28:30 - 35:57] Closing Segment What are your words of wisdom to our listeners? “It’s less about the quantity, but more about the quality of the application of the knowledge you get from books or podcasts.” “Pick the one knowledge that resonates with you, take note, and do some stuff with it.” Spencer talks about a good coaching program The person that you work with don’t pull punches The ability to accept feedback from the coaches  Have they done what you are looking to do? Final words from me Tweetable Quotes:  “You never ever should need to feel like you pushed when it comes to capital raising or involves other people's money .” - Spencer Hilligoss. “It is more important to be understood than to sound smart to the clients ” - Spencer Hilligoss. You can connect with Spencer on LinkedIn and check his website at www.madisoninvesting.co  or email him at spencer@madisoninvesting.co  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


They Backed Out - Leslie Awasom (Thu, 06 Aug 2020)
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Speculating vs Investing - Paul Moore (Thu, 30 Jul 2020)
Today I had the absolute pleasure of speaking with the Managing Partner of Wellings Capital, Mr. Paul Moore. Let’s get into Paul’s story and wisdom on making the right investments and his mistakes in the multifamily field and his so you can avoid them.  Things you will learn in this episode:  [00:01 - 04:00] Opening Segment  I introduce our guest, Paul Moore Paul Introduces himself and gives his background of how he started flipping properties then realized he wanted to get into multifamily real estate.  [04:00- 13:35] Paul’s Misstep Stories - Investing vs. Speculating       ●     Paul talks about his mistakes in the field by speculating instead of truly investing Ignoring advice from mentors leading to Paul losing money on a deal Why Paul was unable to raise apartment rent  Paul talks about how to prevent his mistake from happening He talks about this in his book The Perfect Investment   Realizing multifamily real estate has a lot of competition, Paul looks towards different types of multifamily homes.  [13:35 - 17:58] Closing Segment  Words of Wisdom for our listeners Make sure to invest and not speculate.  Make your mistakes while you’re young Don’t plow a whole high percentage of your cash into one property Paul talks about diversification  The One Thing - Gary Keller  Final words from me Tweetable Quotes: “In Real Estate there are so many opportunities to invest safely and part of that can be reflected in the debt service coverage ratio; The margin of safety between your net operating income and your debt payments… there are so many good ways to invest but you shouldn’t have to speculate and so I recommend people really think through that.” - Paul Moore   You can connect with Paul and his team at  wellingscapital.com. Also, be sure to check out his podcast How to Lose Money. You can also visit him on LinkedIn.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


Something Is Making Noise In the Ceiling - Sam Stidwell (Tue, 28 Jul 2020)
I had the pleasure of speaking with a research architect at the US Army Corps of Engineers, Samuel Stidwell IV. Let’s jump into Sam’s story that failures are part of the process, and it’s a stepping stone for you to learn and be better than you from yesterday. Things you will learn in this episode: [00:01 – 04:37] Opening Segment Sam talks about his background and how his journey began His father was in the real estate industry Majored in Architectural Engineering Just started in real estate recently [04:38 - 14:09] Sam’s Missteps Sam shares his missteps in the real estate business Sam talked about wanting to learn the process by doing it himself  Sam shares some tips he learned from his missteps [14:10 – 19:39] Your Knowledge is Your Leverage Sam talks about not having a formal education in real estate The importance of getting formal education to prepare you into getting in real estate Sam gives powerful words of wisdom that you don’t want to miss!   Tweetable Quotes: “Don’t be too overconfident” – Sam Stidwell “Everybody makes mistakes, but that doesn’t mean that that’s the end of the road” – Jerome Myers You can connect with Sam on Instagram, Linkedin, and Facebook. LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Man On Fire - Matt Faircloth (Thu, 23 Jul 2020)
I had the pleasure of talking with Math Faircloth, President and Director of Investments of The DeRosa Group, a family-owned business dedicated to transforming lives through real estate.  Let's dive into Matt’s story and get expert advice on real estate investing.  [00:01 – 06:45] Opening Segment Matt Faircloth talks about his background and how his journey in real estate began His first deal was a single-family home he rented to two friends After getting married, he and wife started The DeRosa Group [06:46 – 14:37] How to be a Hero Matt tells us two ways to grow in real estate that you don’t want to miss! Matt shares that he identified with a certain Marvel Avenger for being a courageous person and a strong soul inside He shares that his superpowers are explaining complicated things, being a good motivator, and bringing the energy out of people [14:38 – 24:35] Women and Diversity in Real Estate Matt tells us how his wife got involved in the real estate business He talks about his approach in looking for talented people He shares his ideas on the issue of equality in the country  [24:36 – 38:36] The Man on Fire  Matt talks about his experience of losing money He talks about two important historical figures as he shares his approach in dealing with challenges Matt shares the key changes he made to avoid losses again He talks about 1031 exchanges  [38:37 – 40:48] Closing Segment Matt shares some words of wisdom you might want to check out! What will you do in your dark moments?    Tweetable Quotes: “It’s such a life hack to be able to reduce my expenses drastically to the point where I was making a good salary, but my cost of living was zilch.” – Matt Faircloth  “Those that are successful in life are those that just simply don’t quit.” – Matt Faircloth “In your dark moment, don’t quit.” – Matt Faircloth  Resources mentioned: The DeRosa Group Raising Private Capital The Real Estate InvestHER Show Rich Dad Poor Dad You can connect with Matt on LinkedIn and Facebook. Visit their company’s website https://www.derosagroup.com/ and check out their YouTube channel.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


They Are Shooting - Jason Yarusi (Tue, 21 Jul 2020)
Today I had the pleasure of speaking with the CO-Founder of Yarusi Holdings, Jason Yarusi. Let’s dive into Jason’s story of the missteps and how to improve the value of the asset to provide a monthly passive income.  Things you will learn in this episode: [00:01 - 05:19] Opening Segment Fabiola talks about her background and how he got into the multifamily real estate  Connect with Jason, see below for the links [05:20 - 17:50] Problems Affecting Real Estate and How to Improve the Operations  Jason talks about some of the issues he experienced with investing in real estate and how he's been able to solve or deal with it. Jason shares how he addresses the various questions and needs of potential investors What is the problem? How to address it? What is the estimated time of completion? [17:52 - 23:37] Things You Need To Take Into Account: The Property and The Safety Of The Area  Jason provides valuable guidance on what investors should consider when investing in assets older than 1990 or 1980 Jason shares things which you also have to take into account not only the property but also the area around your property, is it safe? Jason offers guidance on if a crime has occurred in the area you purchase [23:38 - 26:53] Closing Segment What are your words of wisdom to our listeners? “You have to act and implement.”  What are your thoughts with mentorship and doing on their own? Do you think it’s helpful for somebody? “It depends on your attitude. You can do both.”    Tweetable Quotes:  “In running a business, there's a certain point where you have to be revenue and expense driven, but you also have to think of people in mind too” -Jason Yarusi  You can connect with Jason on Instagram, Facebook LinkedIn, Youtube, and listen to their podcast The Jason and Pili Project.   LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


Getting Over the Hump - Kyle Mitchell (Tue, 14 Jul 2020)
Today I had the pleasure of speaking with a multifamily syndicator, co-founder of Limitless Estates, Kyle Mitchell. Listen to Kyle 's story of how multifamily investment can be successful with consistency. Things you will learn in this episode: [00:01 - 04:20] Opening Segment Connect with Kyle Mitchell +5628335010. See below for his social links  Kyle talks about his background and how he started investing in real estate [04:21 - 09:36] Kyle’s First Multifamily Deal  Kyle shares an exciting story about his first multifamily deal  Closing 42-unit property in Tucson How he raised a million dollars on a deal  How he did his first deal with no prior existing multifamily experience [09:37 - 15:07] Kyle’s Experience in Multifamily Syndication Kyle talks about how his multifamily experiences in splitting syndication Kyle talks about the importance of building a partnership in dealing with multifamily syndication Kyle shares a fantastic story on why he quit his job to pursue his passion  [15:08 - 23:03] Raising Capital Practices  Listen to Kyle’s advice for someone like you who plans to have a career change  Kyle’s shed some light on what he learned after he closed two deals  Dealing with the lender and raising capital  Kyle’s capital raising practices  Building a relationship  Educational platform add value back to the people.  Kyle talks about how he built his investor database Kyle shares his experience in raising money  Kyle talks about the importance of joint venture  [23:04 - 24:37] Closing Segment The words of wisdom you have for our listeners?  “It’s all about consistency.”    Tweetable Quotes:  “As anyone who wants to get started in multifamily investing, the biggest thing that we have done that's created success for us is consistency” -Kyle Mitchell. You can connect with Kyle on Linkedin, Twitter, Facebook, Youtube, Visit his Podcast.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Its My Own Cash - Fabiola Fleuranvil (Tue, 30 Jun 2020)
I had the pleasure today to speak with real estate developer + CEO of Blueprint Creative Group, Fabiola Fleuranvil. Let’s jump into Fabiola’s story of how to scale your business into investing in affordable senior living development projects.  Things you will learn in this episode: [00:01 - 06:55] Opening Segment Fabiola talks about her background and her investing journey  Connect with Fabiola, see below for the links [06:56 - 14:31] How to Scale Your Business From Small To Big deal  Fabiola shares an incredible story about her transition from fix and flips to multifamily How she was able to recover during a market crash in 2015 to 2016  Fabiola talks about how she scales her property business.  Looking for a growth market in which competition is not so high  How to redevelop your business plan into an affordable assisted living facilities  [14:32 - 21:02]  How to Raise Equity  Fabiola shares a fantastic story about how she met her operating partner Fabiola provides valuable insight into how to raise equity to purchase a property that is a dead asset She bought the building initially with her cash Networking  [21:03 - 25:43] Closing Segment  Are there any missteps along the way with the acquisition of the property? “No, because I've had more than enough time to digest this” The words of wisdom you have for our listeners?  It’s  the fear factor that people have to get rid of” “It’s so much easier to raise on a big deal than it is to raise on a small deal.”   Tweetable Quotes:  “It's better to lose it and make it back versus to be so scared to lose it that you never even try in the first place” - Fabiola Fleuranvil You can connect with Fabiola on Linkedin, Facebook, Instagram, or visit their company website Icon Heritage Partners.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Too Many Hands in the Pot - Ryan Groene (Tue, 23 Jun 2020)
I had the pleasure of speaking with the mobile home park investor and director of operations of Buckeye Communities, Ryan Groene. Let’s dive into Ryan’s story of how learning from your mistakes can help you grow better. Things you will learn in this episode: [00:01 – 5:47] Opening Segment Ryan talks about his background and how his journey began Studied finance in college Worked in financial analysis and investments companies [05:48 – 10:29] Ryan’s Missteps Ryan talks about his business and partnerships Ryan shares when he realized having too many hands in the pot was a misstep [10:30 - 18:02] Ryan’s Methods Ryan shares how he structures his deals to get the best out of it Ryan’s checklist before engaging in deals Ryan shares how he manages the debt side of his investments [18:03 – 24:00] Closing Segment Ryan talks about how mobile home parks work Ryan gives some inspiring words of wisdom that you wouldn’t want to miss!  Ryan explains why investing in real estate is more straightforward than other forms of investments. Tweetable Quotes: “Read as much as you can, talk with as many people as you can, and then at the end of the day, don’t be scared by thinking that real estate is complicated.” – Ryan Groene You can connect with Ryan on Facebook, Instagram, and Linkedin, or you can send him an email at ryan.groene55@gmail.com. If you want to learn more about mobile home park investing, visit https://themobilehomeparkinvestor.com/. LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Scaling Out of the Bedroom - Ivan Barratt (Thu, 18 Jun 2020)
Today I had the pleasure of speaking with the Founder and CEO of Barratt Asset Management, Ivan Barratt. Let’s dive into Ivan’s story of how to scale your business to get the highest Return Of Investment  Things you will learn in this episode: [00:01 - 05:36] Opening Segment Ivan talks about the protests happening in the mids of COVID-19 racism Connect with Ivan +317.762.2625 or see below for the links  [05:37 - 14:02] Evaluate First Your Potential Partners  Ivan talks about his background and his real estate journey  Ivan mentions Ken McElroy who says real estate is not location, location, location. It's, it's location, financing, and partners.  Ivan shares the importance of evaluating individuals and potential partnerships in order to prevent the awful mistakes he had made before Personality test [14:03 - 26:48]  Scaling Out Of the Bedroom Ivan reveals how to construct the foundation of a strong organization  really good trusted attorney  hired an admin or assistant much faster  Ivan shares his 4 coaches in his life that you wish to listen to!  Ivan shares an interesting story about the significance of having a coach in your life Coach is worth every penny. It’s a huge return of investment Ivan  gives powerful words of wisdom to someone like you who wants to scale a business What do I have to do today, that will move the chains on where I'm trying to be Tomorrow Read five to eight business books over the course of the year Tweetable Quotes:  “Don't let that fear or those things slow you down” -Ivan Barratt “You gotta delegate so that you can elevate” -Ivan Barratt Resources Mentioned:  ivanbarratteducation.com  (Blog) barrattassetmanagement.com  (Company Website) ivanbarratt.com  (Personal Website) You can connect with Ivan on Facebook LinkedIn, Twitter, Instagram  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


I Should Have Bought It - Jeffrey Holst (Tue, 09 Jun 2020)
I had the pleasure of speaking with the speaker and founder of Old Fashioned Real Estate Group, Jeffery Holst. Let’s jump into Jeffrey’s story and get and expert real estate advice from a real estate pro!  Things you will learn in this episode: [00:01 - 04:10] Opening Segment Jeffrey talks about his background and where his journey began He was diagnosed with leukemia Visit Jeffrey’s personal website Jeffreyholst.com  Listen to his show the Old Fashioned Real Estate Show  [04:11 - 14:27] Jeffrey’s Missteps   Jeffrey shares his missteps in the real estate business  Jeffrey shares some best practices with his business partner  [14:28 - 23:05] Scaling Your Real Estate Business  Jeffrey talks about getting someone for consultation instead of bringing them in as a long-range partner  Jeffrey shares about how to get better and grow your real estate business how they bridge the gap of his inexperienced business partner Jeffrey gives powerful words of wisdom that you don’t want to miss!  Tweetable Quotes:  “No matter what happens in the world, you can get through it by just moving forward one step at a time” - Jeffrey Holst  You can connect with Jeffrey on LinkedIn, and Facebook, Instagram, and Youtube.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


I Was Asking for Money - Tim Kelly (Tue, 02 Jun 2020)
I had the pleasure of speaking with the Director of Multifamily Education & Executive Partner at Active Duty Passive Incom, Tim Kelly.  Let’s jump into Tim’s story of the recipe to success that you could apply to any facet of life. Things you will learn in this episode: [00:01 - 06:27] Opening Segment Tim talks about his background and his real estate journey  Free Coach Session with Tim. Call +1 847-910-9161 Tim mentions Robert KiyosakiTom Wheelwright, Grant Cardone Tim talks about he discovered multifamily  [06:28 - 18:12] How To Raise A Capital  Tim talks about his approach to raising money and getting deals done Tim shares his struggles in raising capital  Tim shares an interesting story on how he scales up the investor flow [18:13 - 30:57] Finding Success in Real Estate Through Linkedin and Paid Coaching  Tim gives tips on how LinkedIn can be used to network your business Tim gives valuable advice on finding success in the real estate business  Invest in paid coaching  Tim gives powerful words of wisdom about the recipe to success  Learn, Network, Add Value and Take Action Tweetable Quotes:  “If you're not willing to invest in yourself, I don't think you deserve to succeed in business” -Tim Kelly  “Your income is a direct result of how you grow as a person” -Tim Kelly You can connect with Tim on Instagram, LinkedIn, Facebook, and Youtube. Or visit his personal website thetimothykelly.com LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Don't Over Pay - Ryan Wehner (Thu, 21 May 2020)
Knowing the ingredients, the projections, and understanding the staff will save you in the long run. Ryan Wehner talks about some of the common missteps and the important role relationship plays in real estate. He delves into the ingredients and some of the factors that come into play when acquiring a new property. Because each property isn’t the same, vetting property and properly placing management is key to the property’s success. Ryan Wehner is a Property Manager with over 25,000 units and counting.  KEYPOINTS Contingency money Overleveraging and overpaying Property management best practices  Building an online presence pre and post COVID Property management integrity   SEGMENT TIMESTAMPS 01:20 – The elevator pitch  03:45 – General missteps owners make  07:00 – How to know when you are overpaying  13:00 – Getting the most out of a property  20:00 – Vetting a property manager 39:00 – Advocating for yourself as an investor.  Your best advocate as an investor is yourself, you are your own best advocate. - Ryan Wehner RELEVANT LINKS Ryan Wehner Website: http://www.wehnermultifamily.com/ Email: info@wehnermultifamily.com     Support the show (https://www.facebook.com/groups/157335752156211/)


Don't Cash Flow the Rehab - Colin Douthit (Tue, 12 May 2020)
Colin Douthit joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps in his early property management days. We learn why he believes you shouldn't try to cash flow the rehab of your property.  Colin also shares the details on why he has decided to use a debt broker instead of going directly to the bank.   Colin believes that the most important thing you can do is know the rules In this weeks show we learn about: - why physical vacancy goes up when you institute professional property management - how deferred maintenance kills profitability - the challenges associated with refinancing - why you want to have substitution of collateral in your loan - what happens when people live in a unit without a lease - the risk associated with fair housing lawsuits - why self managing isn't a good strategy for cost savings - the importance of communication from the property manager to the owner If you are interested in getting more multifamily investing education go to www.myersmethods.com Support the show (https://www.facebook.com/groups/157335752156211/)


Community Makes the Difference - Janene Tompkins (Sat, 09 May 2020)
Janene Tompkins joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps with her units being "retail" purposes and the struggles associated with strong property management. We learn why she believes that real estate is a great addition to her stock market investments.  Janene also shares the details on how she inherited a pitbull puppy.   Janene believes that the most important thing you can do to make your property do well is creating a sense of community and ownership In this weeks show we learn about: - the challenges with self management - the importance of selecting a safe neighborhood - what to do if your vacant unit is broken into - risk associated with out of state investing - why you must go in each unit during your inspection period - challenges of deferred maintenance during take over - importance of having enough time to allocate to new property turnovers If you are interested in getting more multifamily investing education go to www.myersmethods.com Support the show (https://www.facebook.com/groups/157335752156211/)


500 K Short and 30 Days to Close - A Donahue Baker (Tue, 05 May 2020)
The best solution is creatively finding alternative solutions work best for solving the problem. A Donahue Baker gives tips on finding funding as a real estate developer and developing new ways of closing the deal. He talks about leveraging his network, finding alternative means for funding, and understanding business credit. A Donahue Baker is a CPA by trade but is currently a Real Estate Developer. Join A Donahue Baker as he delves into his missteps as a real estate developer, and creatively coming up with 500K to close a deal. KEYPOINTS Finding alternative means for funding Deal sourcing 3 Tiers of Section 8 Understanding business credit SEGMENT TIMESTAMPS - 05:00 – Misstep 1: Not having the funding. Finding alternative meanings of funding. - 13:15 – Forming strategies for success. Building and leveraging network. - 17:00 – Leveraging business credit. Get it under contract. - 23:00 – How to build business credit. Entities (LLC, S-Corp, etc.) - 26:00 – Words of wisdom. "When you find a deal, even when you don’t have the money, the first thing you do is get it under contract." – A Donahue Baker RELEVANT LINKS A Donahue Baker - Website: https://adonahuebaker.com/ - Instagram: https://www.instagram.com/adonahuebak... - Facebook: https://www.facebook.com/adonahuebake... - Twitter: https://twitter.com/adonahuebaker?lan... - YouTube: https://www.youtube.com/channel/UChzl...  RECOMMENDED READS - Generational Wealth That’s The Key – A Donahue Baker Support the show (https://www.facebook.com/groups/157335752156211/)


Jacked Up - Kenny Wolfe (Thu, 30 Apr 2020)
Kenny Wolfe joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps with coordinating move outs to lift a building. We learn why he decided to bring property management in house and how to buy across the country.  Kenny shares how he jumped into multifamily by doing two passive deals and then syndicated a 76 unit.  We hear about a 2 bedroom unit with 16 mattresses in it and the pain of finding sewer breaks. Kenny believes that there isn't much difference between driving an hour and a half and flying the same distance. In this weeks show we learn about: - importance of accurate accounting - things to look for when buying a company - how to upskill your company by hiring - what happens when cash for keys doesn't work - challenges of older properties - what drove the migration to Texas - how much "cushion" is enough - what dilution of equity means - importance of being a people person If you are interested in getting more multifamily investing education go to www.myersmethods.com Say hi to Jerome Say hi to Kenny Support the show (https://www.facebook.com/groups/157335752156211/)


Rejected Certificate of Occupancy - Andrew Keel (Thu, 23 Apr 2020)
With every story, there’s a beginning, middle, and end, but always expect to the unexpected. Andrew Keel shares his stories of starting as a Lonnie Dealer, flipping homes around Central Florida, and his $60,000 mistake. He delves into the consequences of not doing due diligence, contacting veterans who have experience in the field, and forming partnerships. He gives insight into investing in mobile homes, mobile home parks, and the benefits of personal and professional development. Andrew Keel is the CEO of Keel Team Real Estate Investments, and an Elite Mobile Home Park Investor and Operator.  KEYPOINTS 00:10 – Flipping home to Lonnie Dealer  05:30 – The $60,000 Mistake  13:16 – How to value a mobile home lot 14:40 – Andrew Keel’s words of wisdom  15:20 – Mutually beneficial partnership  “Seminars aren't gonna teach you everything you need to know, you gotta get your hands dirty, you gotta dig in!!!” – Andrew Keel Alex Keel:  Website: https://www.keelteam.com LinkedIN: https://www.linkedin.com/in/andrewkeel/ Support the show (https://www.facebook.com/groups/157335752156211/)


Putting Up 100k Hard - Ryan Narus (Tue, 21 Apr 2020)
Ryan Narus joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps going from being rejected by 40 banks trying to get into his first deal to closing a $10,000,00 deal. We learn the risk associated with 1031 exchanges.  Ryan shares how he went to 40 banks and got rejected and how they put up 100k hard to buy an extra 30 days to smooth out a deal.  He also takes us through a break down on how he makes it easy for sellers, why he is comfortable putting money at risk based on other's promises, and why money has to go to escrow instead of directly to the seller Ryan believes that you have to be ready for the unexpected. In this weeks show we learn about: - frustrations of entrepreneurship - the risk of full leverage debt - value of networking - how escrow works - why zoning is important - the reality of doing work that doesn't get compensation - the importance of being willing to give - why you shouldn't quit If you are interested in getting more multifamily investing education go to www.myersmethods.com Say hi to Jerome Say hi to Ryan Support the show (https://www.facebook.com/groups/157335752156211/)


The Valley of Death - Bruce Wuollet (Thu, 09 Apr 2020)
Bruce Wuollet joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss Bakerson's missteps on properties in Arizona. We learn the risk associated with properties that have chiller systems.  Bruce shares how they negotiated a $250,000 credit and how a strong economy made up for some of their challenges.  He also takes us through a discussion on the "valley of death" which is when you are writing checks to pay your mortgage and other obligations associated with the property Bruce believes that you have to be a rock in uncertain times and you shouldn't let the winds of change push you around. In this weeks show we learn about: - capital calls - dilution of equity - what happens when your property can't pay the mortgage and other bills - how a strong market can save you from unexpected challenges If you are interested in getting more multifamily investing education go to www.myersmethods.com Say hi to Jerome Say hi to Bruce Support the show (https://www.facebook.com/groups/157335752156211/)


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